Page 40 - BusinessWest March 4, 2024

COMPANY NOTEBOOK>>
Point32Health to Acquire Health New England
SPRINGFIELD — Point32Health, the not-for-profit parent company of Harvard Pilgrim Health Care and Tufts Health Plan, announced it has signed a defini- tive agreement with Baystate Health to acquire
its subsidiary, Health New England. Health New England, a not-for-profit health plan in Springfield, offers a range of plans in the commercial, Medicaid, and Medicare markets and serves approximately 180,000 members concentrated in Western Mass. Canton-based Point32Health offers employer- sponsored plans, Medicare and Medicaid plans, plans on the state exchange, and plans for those who are dually eligible for Medicare and Medicaid. It serves 1.9 million members in Massachusetts, Maine, Connecticut, New Hampshire, and Rhode Island. The acquisition is expected to improve product offerings and expand access to a broader network with wider geographic reach. Among both organizations’ shared priorities is expanding high- quality programs and services, particularly those that cover underserved populations and seniors, as well as maximizing the benefits that not-for-profit health plans provide to communities. Point32Health aims to harness the strengths of both organizations and bring value to Health New England members and the broader community by providing greater value to consumers by combining complementary strengths, administrative efficiencies, and a broader product offering; expanding access to care for underserved populations and preserving not-for- profit options through extensive experience in serv- ing these populations; and advancing the quality
of healthcare members receive through a commit- ment to addressing behavioral health, health equity, and social determinants of health. The agreement, which was unanimously approved by the board
of directors of Point32Health and the board of trustees of Baystate Health, is subject to regulatory approvals.
UMass Amherst to Create Center Focused on Offshore Wind
AMHERST — UMass Amherst has been selected
by the U.S. Department of Energy (DOE) to estab- lish and lead the Academic Center for Reliability and Resilience of Offshore Wind (ARROW), a new, multi-million-dollar national center of excellence
to accelerate reliable and equitable offshore wind- energy deployment across the nation and produce a well-educated domestic offshore wind workforce. Led by UMass Amherst with approximately 40 part- ners, ARROW will receive $4.75 million over five years from the the DOE’s Wind Energy Technologies Office and has also received a matching commit- ment of $4.75 million from the Massachusetts Clean Energy Center. The state of Maryland, the second center of gravity of the proposal with participation from Johns Hopkins University and Morgan State University, is contributing $1 million from the Mary- land Energy Administration. Other universities are contributing $1.4 million for a total budget of $11.9 million. Sanjay Arwade, professor of Civil Engineer- ing at UMass Amherst, is director of the new center, with faculty in the university’s Wind Energy Center serving as co-principal investigators and senior personnel of the research team. The center will be a university-led education, research, and outreach program for offshore wind that prioritizes energy equity and principles of workforce diversity, equity, inclusion, and access
MountainOne Insurance Acquires G.W. Morisi Insurance Agency
LONGMEADOW — MountainOne Insurance Agency, a subsidiary of MountainOne Bank, announced the acquisition of G.W. Morisi Insurance Agency Inc.,
a third-generation, family-owned agency that has served Longmeadow and neighboring communi- ties for more than 75 years. The G.W. Morisi staff of four, including President Rory Sullivan, will remain with the agency at its 473 Longmeadow Street loca- tion. In time, additional staff will come on board to further support customers’ insurance needs. G.W. Morisi Insurance Agency will now offer customers many enhanced services, including the addition of group employee benefits, life insurance, long-term- care Insurance, Medicare products, and in-house claims services. Customers also have access to many new insurance carriers, widening their options for coverage at competitive rates. MountainOne Insurance is born from the combination of several small, family-owned agencies that have served Berkshire communities for generations. The acquisi- tion of the G.W. Morisi marks MountainOne’s first physical office outside of Berkshire County, expand- ing its footprint into Longmeadow and neighboring communities.
Westfield Bank Donates $12,500 to Shriners Children’s New England
WESTFIELD — Westfield Bank is pleased to announce a $12,500 donation to Shriners Children’s New England in partnership with the Elan Credit Card Charitable Giving Program. Shriners Children’s is dedicated to improving the lives of children by providing high-quality pediatric specialty care for children up to age 18, regardless of their ability to pay or insurance status. “We are proud to continue our support of this wonderful organization,” said James Hagan, president and CEO. “For close to 100 years, Shriners Children’s has done incredible work providing pediatric care, innovative research, and offering educational programs for medical profes- sionals. Westfield Bank is proud to be a long-time partner with Shriners Children’s.”
Monson Savings Bank Announces $15,000 in Community Donations
MONSON — The people have voted, and the results are in. In late 2023, Monson Savings Bank asked community members to cast their votes for their favorite local nonprofits. The bank is now announc- ing the Monson Savings Bank Community Giving Initiative recipients for 2024. This was the 14th
year Monson Savings Bank has run its Community Giving Initiative poll. The public’s excitement to
cast their vote has grown throughout the years. This year, nearly 7,000 votes were received. Now that the votes have been calculated, Monson Sav- ings Bank is preparing to donate a total of $15,000 among the top 10 recipients, which include I
Found Light Against All Odds (Springfield), Shriners Children’s New England (Springfield), Friends of Hampden Seniors (Hampden), Women’s Empower- ment Scholarship (Greater Springfield), Whip City Animal Sanctuary (Westfield), Monson Free Library (Monson), Miracle League of Western Massachusetts (Springfield), Halfway Home Cat Rescue (Chicopee), Scantic Valley YMCA (Wilbraham), and ClubOh! (Springfield).
Martin Luther King Jr. Family Services Receives $50,000 Grant
SPRINGFIELD — Martin Luther King Jr. Family Ser- vices (MLFKS) received a $50,000 grant from the MassMutual Foundation as part of MassMutual’s inaugural Economic Equity Grant program, a col- laboration of the MassMutual Foundation with MassMutual’s employee business resource groups (BRGs), which serve as an integral component of the organization’s DEI strategy. MLKFS is one of eight organizations to receive a grant. MassMutual’s employee BRGs support initiatives that drive orga- nizational results; increase employee engagement; and foster awareness, respect, and inclusion within the workplace. More than one-third of Mass- Mutual’s employees participate in its eight BRGs, representing Black/African-American, Asian, and Hispanic/Latino/Latinx communities; members of the LGBTQ+ community; individuals with disabilities and their caregivers; members of the armed forces, veterans, and military family members; young pro- fessionals; and women.
Big Y Donates 1.5 Million Meals to Food Banks
SPRINGFIELD — Big Y’s annual Sack Hunger cam- paign provides funds for the four food banks within its two-state marketing area. In turn, these food banks support local soup kitchens, food pantries, senior food programs, day-care centers, and many others of the 2,100-member agencies that they help every day. Their goal is to maximize access to nutritious food and other resources that support food security for those at risk of hunger. The four regional food banks are the Food Bank of Western Massachusetts, the Worcester County Food Bank, the Greater Boston Food Bank, and the Connecti- cut Foodshare. For $5, customers supported Sack Hunger at Big Y’s supermarkets or Table & Vine Fine Wines and Liquors. Every $5 donation brings 10 meals to those in need of support. Additionally, Big Y has added even more ways to boost this year’s efforts, with specific proceeds from produce, floral, Smart Chicken, USDA choice angus beef, along with a portion of every one of Big Y’s family of brands. Big Y’s Sack Hunger campaign started in 2010, when 740 meals were donated. With this year’s 1.5 million meals, the program continues to grow in support of those in need. Big Y’s Sack Hunger dona- tion is part of its ongoing support of food banks throughout the year, including almost daily dona- tions of meat, fresh produce, and bakery, along with grocery, frozen food, and dairy items.
Eversource Submits Roadmap to Achieve Clean-energy Goals
SPRINGFIELD — With a focus on energy equity, environmental-justice communities, and transpar- ency, Eversource submitted to the Massachusetts Department of Public Utilities (DPU) its final Electric Sector Modernization Plan (ESMP) to modern-
ize the electric distribution system and help meet the Commonwealth’s decarbonization goals after incorporating feedback from the Grid Mod Advisory Council (GMAC) and dozens of stakeholders. The
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